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Korea has grown into a trading power as a result of consistent pursuits of policies to encourage exports. In terms of taxes, this inevitably leads to the international tax issues.
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In recent years, the G20 and OECD have introduced a number of new schemes to prevent tax avoidance (BEPS: Base Erosion and Profit Shifting) that reduces global tax burdens, and Korea has introduced new documentation requirement of transfer prices since 2016.
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BEPS, including the new documentation requirement requires companies to provide more extensive information on foreign investment, foreign-affiliated companies, global business activities, and transaction with foreign related parties. Therefore the companies must invest a lot of time and effort to provide this information.
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In addition, unlike tax issues related to domestic transactions, it is difficult for companies to resolve international tax issues alone, as they cannot be solved without understanding broad knowledge of foreign tax laws and tax treaties.
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E-hyun’s dedicated team consists of experts with experience of international tax department and Chinese tax department at the National Tax Service, foreign accountants and certified public accountants, specialized in international taxation and provides special and differentiated premium international tax services.